Hey Craig, sure technical trading helps, but there are a lot of reputable sources and cheaper sources which actually have some recognition, rather than a defunct lifestyle trader which was/is in trouble with ASIC. Lifestyle trader was all about selling their system. Surely they would have just traded their system and saved themselves.
Hey Craig, sure technical trading helps, but there are a lot of reputable sources and cheaper sources which actually have some recognition, rather than a defunct lifestyle trader which was/is in trouble with ASIC. Lifestyle trader was all about selling their system. Surely they would have just traded their system and saved themselves.
lloydbee
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If that is as good as their system can produce (340% gain in 5 years) it will be a long time before you can give up your day job. Spend less time using that system and more time Virtual trading other strategies because that is clearly letting you down as a trader. And if your an investor then you really need to think it all trough again. Investing is a poor mans game in today's day and age of HFT. I pity anyone who is still an 'investor' these days.
Why is it so hard for people to wake up to the fact these companies are nothing more than slick sales companies with absolutely useless systems, like you say if it was that good why wouldn't they just trade it themselves it's not like you can seriously think they sell it because they care for other people.
Wake up people and stop being so naive.
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The way this system was sold on stage, and I saw Aussie Rob present quite a few times is in on a cross and out on a cross, it does not work, you give back too much profit... That's how it's sold to Mums and Dads investors, so they sign up. They are then hit with Risk, Money Management, IB orders etc etc. It then becomes too hard for them, so this product has been misrepresented on stage.
As Craig said, strong risk management, not mentioned on stage and more rules to follow, so clients struggle.
Also, Aussie Rob on his Facebook started the Aussie Rob foundation, empowering people to eliminate poverty.... yeah right. So you get rid of your staff 2 weeks before Christmas, the worst time for them to get a job, pretty much ensuring they will struggle and be on the poverty line. And to compound the issue, according to my sources, 2 months on you have not paid their entitlements or super.
Jeez this guys is all heart. Now I have read about people, when their company goes to the wall, they sell things to ensure their staff get paid. Well has Aussie Rob done this, I mean he's all about eliminating poverty right, obviously not. No according to his Facebook, he is still living the high life, still has his properties, nice house, nice cars, worrying about what to cook for dinner; I guess he is inviting the ex-staff over, to help them through. You know the Scrooge Christmas story. He is out resurrecting old relationships that went off the rails, hold on I feel a new deal being struck.
So is he helping ex-staff and creditors, no, not at all, he and his offsider Priestley (allegedly, the cause of most of the issues) are out pursuing new deals and businesses, whilst all the staff, clients and creditors wait for their money.
Now if you bought the product and some of this rings true, try complaining to ASIC through their online complaint form and go for misrepresentation and if you are owed money for a refund or you are a creditor, try submitting a statutory demand for your money, you probably have just as much chance as waiting 5-10 years for it. Now this is not advice, it is purely giving an option.
Also not to worry you too much but the Lifestyle Trader site is down, the Lifestyle Investor site is down and the new company Investment Capital Systems have changed their AFSL.
Worried now, I would be.
As Craig said, strong risk management, not mentioned on stage and more rules to follow, so clients struggle.
Also, Aussie Rob on his Facebook started the Aussie Rob foundation, empowering people to eliminate poverty.... yeah right. So you get rid of your staff 2 weeks before Christmas, the worst time for them to get a job, pretty much ensuring they will struggle and be on the poverty line. And to compound the issue, according to my sources, 2 months on you have not paid their entitlements or super.
Jeez this guys is all heart. Now I have read about people, when their company goes to the wall, they sell things to ensure their staff get paid. Well has Aussie Rob done this, I mean he's all about eliminating poverty right, obviously not. No according to his Facebook, he is still living the high life, still has his properties, nice house, nice cars, worrying about what to cook for dinner; I guess he is inviting the ex-staff over, to help them through. You know the Scrooge Christmas story. He is out resurrecting old relationships that went off the rails, hold on I feel a new deal being struck.
So is he helping ex-staff and creditors, no, not at all, he and his offsider Priestley (allegedly, the cause of most of the issues) are out pursuing new deals and businesses, whilst all the staff, clients and creditors wait for their money.
Now if you bought the product and some of this rings true, try complaining to ASIC through their online complaint form and go for misrepresentation and if you are owed money for a refund or you are a creditor, try submitting a statutory demand for your money, you probably have just as much chance as waiting 5-10 years for it. Now this is not advice, it is purely giving an option.
Also not to worry you too much but the Lifestyle Trader site is down, the Lifestyle Investor site is down and the new company Investment Capital Systems have changed their AFSL.
Worried now, I would be.
Something smells about this whole affair. Lets look at it. Lifestyle Trader sheds heaps of staff without pay. Then ICS takeover the assets and intellectual property of Lifestyle Trader. Abracadabra....Lifestyle Trader are back in business as ICS.
So the valuable assets have been ripped off out of Lifestyle Trader leaving ex staff and creditors high and dry!!!
How can this be done under the Corporations Act?.
Lets hope ASIC follow this like a rat up a drainpipe. Might find Aussie Rat and Priestley are fully behind ICS. Cannot believe for 1 minute that the shareholder/director of ICS (and ex General Manager of Lifestyle Trader) had the resources to carry this out by himself including taking up a lease in the Corporate Centre, Bundall.
One bad smelling rat here!!!
So the valuable assets have been ripped off out of Lifestyle Trader leaving ex staff and creditors high and dry!!!
How can this be done under the Corporations Act?.
Lets hope ASIC follow this like a rat up a drainpipe. Might find Aussie Rat and Priestley are fully behind ICS. Cannot believe for 1 minute that the shareholder/director of ICS (and ex General Manager of Lifestyle Trader) had the resources to carry this out by himself including taking up a lease in the Corporate Centre, Bundall.
One bad smelling rat here!!!
UizBSme Nahmorz
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Well reading this article: Licence woe for Lifestyle Investor Services Local Business | goldcoast.com.au | Gold Coast, Queensland, Australia
Well I nearly choked on my cuppa. This man blames everyone and everything but himself for the demise of these companies. Staff have not been paid. Creditors have not been paid. Clients are just stunned and burnt.
The director is the one responsible for his own company. Rob Wilson stand accountable - Murray Priestley, as CEO - you stand along side him. Now pay those who worked for you or provided products and services - do what is right - if you know what that is.
A lot of people hurting financially and emotionally from the mess these 2 have created.
Yes - they have gone onto other things, to take more peoples money for themselves. Beware when you see these names!
LIS’ licence was suspended due to concerns that LIS had not complied with conditions of its licence and had not complied with financial services laws.
In particular, ASIC’s investigation found LIS:
failed to comply with a condition of its licence requiring it to notify ASIC within five days of Mr Scott Goold resigning as the responsible manager of LIS, and of other details as to a replacement responsible manager; and
failed to maintain the competence to provide financial services following Mr Goold’s resignation as responsible manager, with no person appointed to replace him in the role and with Mr Goold unable to adequately perform this role from overseas.
Further, ASIC had reason to believe that LIS will not comply with its obligations under financial services laws based on complaints by Mr Goold alleging serious issues about the management of LIS and LIS’ finances and concerns subsequently identified about Mr Goold’s fitness to be a responsible manager.
ASIC has ensured that although the AFS licence of LIS is suspended, for the purposes of LIS being a member of a dispute resolution system and LIS having compensation arrangements for clients, the AFS licence continues in effect as though the suspension had not occurred.
In particular, ASIC’s investigation found LIS:
failed to comply with a condition of its licence requiring it to notify ASIC within five days of Mr Scott Goold resigning as the responsible manager of LIS, and of other details as to a replacement responsible manager; and
failed to maintain the competence to provide financial services following Mr Goold’s resignation as responsible manager, with no person appointed to replace him in the role and with Mr Goold unable to adequately perform this role from overseas.
Further, ASIC had reason to believe that LIS will not comply with its obligations under financial services laws based on complaints by Mr Goold alleging serious issues about the management of LIS and LIS’ finances and concerns subsequently identified about Mr Goold’s fitness to be a responsible manager.
ASIC has ensured that although the AFS licence of LIS is suspended, for the purposes of LIS being a member of a dispute resolution system and LIS having compensation arrangements for clients, the AFS licence continues in effect as though the suspension had not occurred.
Evenborn. Not sure what you are exactly trying to say. Even expert market analysts have had great difficulty predicting the market over the last 3 to 4 years.
So what sort of skilled traders are we talking about?. Those traders using the Aussie Rob system that guarantees AMAZING returns in return for payment of $10,000 to $15,000 plus monthly membership fees?. Please clarify Evenborn
Please read page 66 of today's Gold Coast Bulletin. Aussie Rob has put his Level 39 Chevron Penthouse on the market. It goes to auction on 1 March.
No doubt Aussie Rob will be benevolent and use the proceeds to pay his ex employees and creditors.:clap:
UizBSme Nahmorz
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Maybe not - rumour has it that he purchased those offices in his Super Fund. He is one of those people that has assets purchased in all different entities names - so staff and creditors might not see any of it!
You kinda hope he has been upfront on this because according to some of the staff, level 39 is dogged with problems. The office space does not have building or planning approval to be offices because Raptis never completed this and Council are chasing these approvals. The Body Corporate has also raised several issues with the office space on level 39 & 40.
True to form Aussie Rob is going to land these problems with someone else. If you are ex-staff, ex-client owed money for a refund or a creditor and you have still not been paid, maybe time to act. You will not get a better lever and let's face it, in this market Aussie Rob is unlikely to get his money back and if this becomes common knowledge, the price could fall through the floor.
True to form Aussie Rob is going to land these problems with someone else. If you are ex-staff, ex-client owed money for a refund or a creditor and you have still not been paid, maybe time to act. You will not get a better lever and let's face it, in this market Aussie Rob is unlikely to get his money back and if this becomes common knowledge, the price could fall through the floor.
Indie Lifestyle
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I am disgusted with Rob Wilson (Aussie Rob) and Murray Priestley that they just wipe their hands of the debts and open up new companies and expect us to forget about all the promises! What happened that Rob Wilson says it is easy to trade just one hour a day and when his wife wants jewellery he just trades for an hour. Then Rob why have you not just traded and to get yourself out of the 3 million debt you have......because unless you trade 24 hours a day it does not work. Why is not one of the staff at Lifestyle rich? just tell me one? if trading works then you would think the staff would be! WHat happened to that program Elite Investor? Did anyone make any money? I hear that everyone singe investor in that program has lost not hundreds but tens of thousands...now they want you to use ICS.
ICS is run by the same staff (not that there are many left), the same protocols (which there were none)
and Rob makes money from ICS. THIS IS A JOKE. Common traders see the writing on the wall
ICS is run by the same staff (not that there are many left), the same protocols (which there were none)
and Rob makes money from ICS. THIS IS A JOKE. Common traders see the writing on the wall
Every single one of these schemes makes money by fleecing the customers. None of these guys make money trading, they are just marketing another get rich quick product. If it wasn't trading it would be some other scheme. I'd be surprised if you see a penny from these guys.
Changing the name to Investment Capital Systems (ICS) will not allow Rob Wilson (Aussie Rob) and Murray Priestley to just wipe their hands of the debts.
Who owns Investment Capital Systems? Who are the Directors?
Well, well. Look at page 66 of today's Bulletin. Aussie Rob has deferred the auction of his Chevron penthouse/office until 8 March. Wonder why???
The Harcourts advert has removed all reference to possible use of the space. Wonder why???
It now states "New lease returning $465,000 per annum". Let me think, Aussie Rob previously rented the space to his own company, Lifestyle Trader which is now broke with no assets which were stripped out and gifted to ICS leaving the creditors and staff penniless. NORMALLY, the assets would have been sold with the proceeds paid to creditors and staff.
So what is the $465,000 based on?. The rent that was paid by Lifestyle Trader into the Aussie Rob "I am going to retire rich" pension fund?. I very much doubt that the rent paid by Lifestyle Trader was an arms length rent.
Good luck with the auction. Think Aussie Rob is staring down the barrel of a significant loss on the sale.
Lets hope ASIC pursue Aussie Rob and Priestley over the debts.
As regards ICS, think you will find the owner and shareholder is Adam P..., former General manager of Lifestyle Trader, now General Manager of ICS!!
Do not be fooled into thinking Adam has been able to fund ICS.
There is no doubt Aussie Rob and Priestley have not only funded ICS but will be the major recipients of any income. What a sham!!
.Good observations Deepdale and so true....
The ploy is though, for Aussie Rob to take all the flack, so as to divert attention from his mate Murray Priestley. These guys are great at this and Priestley is the expert, all front and no substance. I spoke to a friend of mine and he reckons that as a CEO, he was crap, did not have a clue and when things got so bad, he called for divine intervention to help him out.... WTF!!!
Anyhow back to my point...if Lifestyle Trader and Investor Services are wound up, why will they worry. Priestley is busy roping all and sundry into Alpha Capital Management, so they can sting even more clients, who are stupid enough to invest with them. Check LinkedIn, he is linking with everyone, I am sure the Pope is on his list somewhere...
Now Priestley has a mate as well, we will call him Em Eff for short and what's he doing, he is working on Investor Edge, re-branding software for sale worldwide...
Two great opportunities to make money.. and whilst this seems bad, all the staff that worked so hard to make Lifestyle Trader, what it once was, have been cast to the wind.. Staff, licensees, trainers, other business partners, all levered out by Priestly, so he could get his way and all the cream and create the..... FUND
So basically, whilst staff, clients and creditors wait for their money, these guys are busy creating new ventures to further line their pockets.
In his day and age, I thought there were laws against this sort of stuff. ASIC where are you?
If you are reading this post, for your own sake, steer clear of these guys, they are only after your money.
The ploy is though, for Aussie Rob to take all the flack, so as to divert attention from his mate Murray Priestley. These guys are great at this and Priestley is the expert, all front and no substance. I spoke to a friend of mine and he reckons that as a CEO, he was crap, did not have a clue and when things got so bad, he called for divine intervention to help him out.... WTF!!!
Anyhow back to my point...if Lifestyle Trader and Investor Services are wound up, why will they worry. Priestley is busy roping all and sundry into Alpha Capital Management, so they can sting even more clients, who are stupid enough to invest with them. Check LinkedIn, he is linking with everyone, I am sure the Pope is on his list somewhere...
Now Priestley has a mate as well, we will call him Em Eff for short and what's he doing, he is working on Investor Edge, re-branding software for sale worldwide...
Two great opportunities to make money.. and whilst this seems bad, all the staff that worked so hard to make Lifestyle Trader, what it once was, have been cast to the wind.. Staff, licensees, trainers, other business partners, all levered out by Priestly, so he could get his way and all the cream and create the..... FUND
So basically, whilst staff, clients and creditors wait for their money, these guys are busy creating new ventures to further line their pockets.
In his day and age, I thought there were laws against this sort of stuff. ASIC where are you?
If you are reading this post, for your own sake, steer clear of these guys, they are only after your money.
UizBSme Nahmorz
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Well, well. Look at page 66 of today's Bulletin. Aussie Rob has deferred the auction of his Chevron penthouse/office until 8 March. Wonder why???
The Harcourts advert has removed all reference to possible use of the space. Wonder why???
It now states "New lease returning $465,000 per annum". Let me think, Aussie Rob previously rented the space to his own company, Lifestyle Trader which is now broke with no assets which were stripped out and gifted to ICS leaving the creditors and staff penniless. NORMALLY, the assets would have been sold with the proceeds paid to creditors and staff.
So what is the $465,000 based on?. The rent that was paid by Lifestyle Trader into the Aussie Rob "I am going to retire rich" pension fund?. I very much doubt that the rent paid by Lifestyle Trader was an arms length rent.
Good luck with the auction. Think Aussie Rob is staring down the barrel of a significant loss on the sale.
Deepdale - you are spot on. I am told that Aussie Rob made all the companies that were in the Chevron offices (all HIS companies) to pay huge rents direct to the Aussie Rob Super Fund, so that would be what the rent is based on.
I read with interest a previous post. It appears the office space has not been approved by council! So what else is wrong with that building that Aussie Rob Wilson is trying to pass onto an unsuspecting buyer. I do hope they do their research on him and find this forum before purchase.
NEWSFLASH >> Rob Wilson and his wife are so strapped for cash, that they are currently in Thailand........ while staff, creditors and investors have not been paid. Has this man no integrity at all?
Oh.......... and the fantastic CEO that lead Lifestyle Trader to its doom, Murray Priestley, seems he is now managing a Hedge Fund........... Investors BE WARNED!!
Good observations Deepdale and UBIS and so true....
The ploy is though, for Aussie Rob to take all the flack, so as to divert attention from his mate Murray Priestley. These guys are great at this and Priestley is the expert, all front and no substance. I spoke to a friend of mine and he reckons that as a CEO, he was crap, did not have a clue and when things got so bad, he called for divine intervention to help him out.... lol
Anyhow back to my point...if Lifestyle Trader and Investor Services are wound up, why will they worry. Priestley is busy roping all and sundry into Alpha Capital Management, so they can sting even more clients, who are stupid enough to invest with them. Check LinkedIn, he is linking with everyone, I am sure we are all on his list!!!!!
Now Priestley has a mate as well, we will call him Michael for short and what's he doing, he is working on Investor Edge, re-branding software for sale worldwide...
Two great opportunities to make money.. and whilst this seems bad, all the staff that worked so hard to make Lifestyle Trader, what it once was, have been cast to the wind.. Staff, licensees, trainers, other business partners, all levered out by Priestly, so he could get his way and all the cream and create the..... FUND
So basically, whilst staff, clients and creditors wait for their money, these guys are busy creating new ventures to further line their pockets.
In his day and age, I thought there were laws against this sort of stuff. ASIC where are you?
If you are reading this post, for your own sake, steer clear of these guys, they have no integrity, as pointed out by UBIS and they are only after your money.
The ploy is though, for Aussie Rob to take all the flack, so as to divert attention from his mate Murray Priestley. These guys are great at this and Priestley is the expert, all front and no substance. I spoke to a friend of mine and he reckons that as a CEO, he was crap, did not have a clue and when things got so bad, he called for divine intervention to help him out.... lol
Anyhow back to my point...if Lifestyle Trader and Investor Services are wound up, why will they worry. Priestley is busy roping all and sundry into Alpha Capital Management, so they can sting even more clients, who are stupid enough to invest with them. Check LinkedIn, he is linking with everyone, I am sure we are all on his list!!!!!
Now Priestley has a mate as well, we will call him Michael for short and what's he doing, he is working on Investor Edge, re-branding software for sale worldwide...
Two great opportunities to make money.. and whilst this seems bad, all the staff that worked so hard to make Lifestyle Trader, what it once was, have been cast to the wind.. Staff, licensees, trainers, other business partners, all levered out by Priestly, so he could get his way and all the cream and create the..... FUND
So basically, whilst staff, clients and creditors wait for their money, these guys are busy creating new ventures to further line their pockets.
In his day and age, I thought there were laws against this sort of stuff. ASIC where are you?
If you are reading this post, for your own sake, steer clear of these guys, they have no integrity, as pointed out by UBIS and they are only after your money.
Well said Lyza. We think alike,
But interesting though is that Alpha Capital Management do not have an AFSL licence in their own name. Maybe ASIC will not give one to Priestley. Would you??.
Also have a laugh at Alpha's website.
It states "Alpha specialises in managed futures and quantitive strategies. Alpha is in the process of launching a Market Neutral Wholesale Fund in February 2012"
Well February has passed!!. The use of the word "specialises" is a load of CRAP.
You would not invest a bent penny with this man. The only thing he can do is destroy wealth. He is a genius at doing this. God help any poor investor.
